Nick Ward of Gold Bullion Partners in London reported that the Bank of China is currently dumping trillions and trillions into the market, the biggest money printing event in history. China's M2 money supply is now over 48 trillion [M2 money is money that can be accessed easily and quickly]. That is more than double the entire US M2 money supply.

China is buying commodities and assets, trading their paper money for real things such as gold, silver, copper, etc. Meanwhile, western banks are are reportedly sitting on massive silver short positions – an estimated 4.4 billion ounces short. 

Ward said that the global mine supply every year is about 800 million ounces, and that means these banks are shorting about 550% of the world's annual silver production.

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China is debasing their currency, which naturally pushes up gold and silver. Whereas the western institutions are betting against rising prices with short positions that can't be covered. He predicted that western banks will face margin calls that could lead to a full re-pricing of the metals because there is a finite amount. Central banks are racing to destroy their currencies, which leads to the desire to own something that can't be printed.

4700 contracts were standing for delivery in January on COMEX – each contract represents 5,000 ounces of physical silver, about 23 and a half million ounces, all demanded in in the first 3 days of the month when people expect it to be quiet. 

The buyers are not identified, but the size, the timing and willingness to pay higher prices points to institutions, industrial users, and sovereign nations. They are buying it because they need it, it is not speculation. 

March is a major delivery month and will be the main event to secure supplies for electronics, solar panels, defense systems, and other real world items.